Press Releases, 6/30/2014 | The Development Policy Committee

EU agrees on free trade areas with Ukraine, Georgia and Moldova

The EU signed Free Trade Agreements with Ukraine, Moldova and Georgia on 27 June. Free trade is part of the Association Agreements concluded with these countries.

Lenita Toivakka, Minister for European Affairs and Foreign Trade, considers the agreements to be significant in politically and economically difficult times.

“The agreement supports Ukraine’s reform process and the country’s possibilities to develop economically. It is also important as a factor stabilizing society. Ukraine has been a promising market for Finnish companies,” Toivakka states.

A Free Trade Agreement means the gradual liberalization of trade and joint trade regulations. An Association Agreement deepens political relations between the country in question and the EU.

“Moreover, an agreement concluded with the EU does not prevent the development of balanced trade relations with other countries, such as Russia,” Toivakka adds.

The agreements were signed in conjunction with the European Council in Brussels on 27 June.